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    Young Man Case Study

    Uploaded by

    kamatsohani954

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Young Man Case Study

    Uploaded by

    kamatsohani954
    13 views5 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    13 views5 pages

    Young Man Case Study

    Uploaded by

    kamatsohani954

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Bank Furniture Rent Wages &

    Cash Capital T/P Supplies Website


    Loan & fixtures Expense Salaries

    1-Jun-11 50000 50000


    50000 50000
    -498790 498790
    -10250 10250
    -50000 50000
    -4600 4600
    -3000 3000
    -36000 36000
    -110400 110400
    -2400
    -4560 4560
    -5800
    -3870
    -2700
    -4500
    -20000 -20000
    43141
    -19110

    634580

    750 750
    500
    599500
    -4560
    -3840

    1741 50000 30000 1094980 11720 54600 3000 36000 110400


    Accumula
    Advertisin
    Insurance Equipmen Utilities Dep./ ted Credit Unused
    g Revenue T/R
    Premium t expense Amort. Dep./Amo card fees vouchers
    expense
    rt.

    2400

    5800
    3870
    2700
    4500

    680141 637000
    19110
    28560
    -26000
    634580
    10920 -10920
    1290 -1290
    900 -900
    1500 -1500

    500

    2400 5800 6570 5000 680141 1271580 14610 -14610 19110 2560
    Sales Clothing Supplies Interest Interest
    COGS
    Returns inventory Expense Payable expense

    28560
    -26000

    599500
    -4560
    3840
    2000 2000
    -470440 470440

    2560 124500 3840 2000 2000 470440


    Description Amount
    Revenues 680141
    Sales Returns -2560
    Net Sales 677581

    Cost of Goods Sold -470440


    Gross Profit 207141

    Shipping for Inventory Purchases -10250


    Credit Card Fees -19110
    Rent Expense -36000
    Wages and Salaries -110400
    Insurance Expense -2200
    Office Supplies Expense -3840
    Utilities Expense -5000
    Advertising Expense -5800
    Depreciation Expense (Furniture and Fixtures) -10920
    Depreciation Expense (Computer and Cash Register) -2190
    Amortization Expense -1500
    Interest Expense -2000
    Total Operating Expenses -209210
    Operating Income (Loss) -2069
    Net Income (Loss) -2069
    Balance Sheet Amount
    Assets
    Cash 1741
    Accounts Receivable 2420
    Office Supplies Inventory 1470
    Clothing Inventory 124500
    Prepaid Insurance 200
    Furniture and Fixtures 54600
    Accumulated Depreciation - Furniture and Fixtures -10920
    Website Cost 3000
    Accumulated Amortization - Website -1500
    Computer and Cash Register 6570
    Accumulated Depreciation - Computer and Cash Register -2190
    Total Assets 178891

    Liabilities & Equity


    Accounts Payable 97400
    Unused Vouchers 2000
    Interest Payable 2000
    Bank Loan 30000
    Total Liabilities 131400
    Equity
    Common Stock 50000
    Retained Earnings -2509
    Total Equity 47491
    Total Liabilities & Equity 178891

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